Sub-Prime Mortgages: Financial Neutron Bombs

When word of the neutron bomb came out, the joke making the rounds was that it was the Landlord’s Bomb: It kills people but leaves the buildings standing.

That’s exactly what’s been happening with the crooked sub-prime mortgage mess.

Ghost Town USA
Tess Vigeland tours the wasteland of foreclosed homes near Stockton, California, and meets a family that’s resorted to squatting in their own home.

We only had to go three houses before finding another dried-up lawn with a sign that said “bank-owned.” As we rounded a corner, the Sinclairs’ neighbors got up from their front porch and asked what we were doing.

Larry and Kathy Fiddler have lived here since the development went up four years ago.

Larry Fiddler: It’s a shadow of its former self, really. Everybody’s gone just about but five of us.

And all the crooks walk away scott free.

So they can do again next time.

Explore posts in the same categories: C.O.A.T. - Belief, C.O.A.T. - Other, C.O.A.T. - Scams

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